SSC Buys Influencer Marketing Platform Grapevine

In New York, technology firm Seven Stars Cloud Group (SSC) has acquired influencer marketing platform Grapevine Logic, for an undisclosed sum.

Grapevine says its platform has connected more than 4,700 brands with over 177,000 social media influencers, generating in excess of 6 billion monthly views and with more than 3.2 billion followers. Advertisers use the firm's workflow management software and proprietary tracking and analytics to measure direct response and conversion rates from promotional content on YouTube, Facebook and Instagram. The company's core business model involves brands hiring social media influencers to deliver specific marketing requirements, for which Grapevine accepts fees from brands as well as a service fee from hired influencers.

SSC (which is to be renamed Ideanomics) says the acquisition of Grapevine will also provide access to 'high impact influencers' - from top celebrities through to micro-influencers. The deal will also open up the firm's move into customer loyalty programs, consumer financing and the asset securitization market. In addition, SSC says it will apply its blockchain-enabled technologies, including smart contracts and the tokenization of assets, to Grapevine's existing social media influencer business model, to better engage with fans, brands and communities on a global scale.

Grant Deken (pictured), Grapevine co-founder and CEO, comments: 'Joining SSC accelerates our ability to innovate and provide new ways to create value and empower influencers, celebrities, and advertisers to more deeply connect and engage with audiences. We are excited about the opportunity that blockchain and AI offer, and we look forward to integrating these technologies together to expand our market impact and reach'.

Web sites: www.sevenstarscloud.com and www.grapevinelogic.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.